Dr. Ghada Khalil, Director of the Rowad 2030 Project of the Ministry of Planning and Economic Development said a number of 677 start-ups are currently operating in Egypt providing some 45,955 job outlets, saying that the number of companies that expanded their activities locally and internationally reached 6.20% of the total number of all participating firms.

In a press conference held Friday 23/12/2022 to review business startups and entrepreneurships scaleup during a session to discuss solutions and services offered to startups and entrepreneurs, the director of Rowad 2030 Project pointed out to the role of the project, along with services it offered.

She said that Rowad 2030 was established under the ministry’s umbrella to support building the capacities of youth and developing their skills and enabling them to transform their ideas into projects on the ground.

A number of cooperation protocols between the project and leading partners were signed during the session, Khalil said.

Egypt’s start-ups achieved a record growth Bold Capital value within the past five years with a compound annual growth rate amounting to 83.81%, adding that the total value of investments realized in the past five years reached about dlrs 1. bn, she added.

Rowad 2030 serves the goal of transforming the Egyptian society’s approach by 2030, to be creative and science-technology oriented. Rowad 2030 aims to build an integrated and inclusive entrepreneurial ecosystem that enables youth to establish their own businesses and projects.

All drives will in turn help to consolidate the role of entrepreneurship in the development of the national economy through the implementation of the Project’s four pillars. These are Education & Training, Entrepreneurship Awareness Campaigns, Business Incubators and Capacity Building for Government Officials.

Source: State Information Service Egypt